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What, ’s coming up at Cyprus Film Days

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What, ’s coming up at Cyprus Film Days

The 22nd edition of Cyprus Film Days is set to take place from April 12, featuring a diverse line-up of films that address major social and artistic concerns of our times. The festival will include screenings of internationally acclaimed films such as “The Old Oak,” “Perfect Days,” “Green Border,” “Afire,” and “Do not Expect too Much from the End of the World.” Additionally, the festival will showcase films by Cypriot directors in the Cypriot Films Competition Section, as well as independent micro-budget filmmaking in the Taste of Indie section.

First Lady calls for more women in decision-making centres

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First Lady calls for more women in decision-making centres

Fact: First Lady Philippa Karsera Christodoulides called for more women to be in decision-making centers and highlighted the need for policies that allow women to combine their professional and family life.

Childcare expansion for working families

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Childcare expansion for working families

Deputy Minister of Social Welfare, Marilena Evangelou, announced the creation and expansion of 30 childcare centers with subsidized fees and afternoon hours to help reconcile professional and family life. The Deputy Ministry has received 366,000 calls within a 10-month period since the launch of the 1450 helpline. The waiting time for social welfare applications has been reduced by 74%, now taking 90 days compared to 12-24 months previously. Verification processes have been increased to detect system fraud, resulting in 364 terminations and an annual saving of €3.1 million. The Deputy Ministry is also focusing on digitization and simplification of procedures and services, including an online application for the Guaranteed Minimum Income (GMI) and a citizen helpline. Additionally, the Ministry is expanding subsidy plans for childcare and meals for children up to 4.5 years old, with a cost of €16 million per year. A 5% increase in Child Allowance has also been implemented, benefiting approximately 60,000 families.

Parliamentary labour committee to address single-parent benefits legislation

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Parliamentary labour committee to address single-parent benefits legislation

The Parliamentary Labour Committee is waiting for a bill from the Ministry of Social Welfare to regulate single-parent benefits by the end of May. The committee’s agenda will include the issue in early June. A bill submitted by AKEL MPs aims to remove the requirement that a single parent should be without a partner and not terminate the benefit if the single parent cohabits with another person. The proposed law by the government is expected to have similar content. The committee aims to refer either the bill or the proposed law, or both, to the Plenary before the end of June for final regulation. The existing legislative framework that terminates the benefit in cases of cohabitation is seen as violating human rights and needs to change.

FACTBOX-What do we know about the deadly attack at the concert hall near Moscow?

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FACTBOX-What do we know about the deadly attack at the concert hall near Moscow?

At least 139 people were killed and 182 wounded in an attack at the Crocus City Hall concert venue near Moscow. The attackers, armed with Kalashnikov automatic weapons, began shooting at terrified civilians in the venue. Islamic State claimed responsibility for the attack, which Russian officials have cast doubt on. Russian President Vladimir Putin stated that the attackers were heading towards Ukraine when they were detained. The FSB detained 11 people, including the four gunmen who directly carried out the attack.

First circumnavigation of Cyprus for 50 years

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First circumnavigation of Cyprus for 50 years

On September 21, 2023, a crew led by IOC Young Leader Sophia Papamichalopoulos completed a circumnavigation of Cyprus, a feat not achieved in over 50 years. The project, named Winds of Change, involved young Greek and Turkish Cypriots sailing around the entire island to promote peace-building and dialogue. The journey took almost 70 hours, covering 326.9 nautical miles, and ended on the International Day of Peace. The initiative has gained international attention, with a documentary set to be released at the Paris Olympics.

Getting tougher on naturalisation

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Getting tougher on naturalisation

The new requirements for applying for Cypriot nationality include: living in Cyprus for 12 months continuously before the application submission (with a permissible absence of up to 90 days), being of good character, having sufficient knowledge of the Greek language (proven by a written examination), demonstrating knowledge of local political and social realities (assessed by a 3-member committee), having suitable accommodation and stable financial resources, intending genuinely to reside in Cyprus, and excluding asylum seekers or holders of international protection, and foreign students from the time of stay calculation. Failure to meet any of these conditions results in application rejection. The requirements have retrospective effect, applying even to applications submitted before the law amendment in March 2024. Exceptions are made for Ireland and Denmark within the EU. Highly skilled foreign workers can obtain citizenship after residing in Cyprus for four to five years, depending on qualifications, and must pass a Greek language test at level B1 for a five-year stay or A1 for a four-year stay, without needing to pass history/culture tests.

Cyprus banks: interest rate policies harming borrowers and savers

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Cyprus banks: interest rate policies harming borrowers and savers

By December 2023, interest rates on Cyprus bank loans for house purchases had reached an average of 5.1%, compared with the average rate of 3.8% for other euro area countries. The average interest rate on Cyprus bank loans to corporations was 5.7% in December 2023, exceeding the euro area average of 5.1%. Cyprus banks had increased their profits by 600% to over €1.1 billion in 2023. The interest income of the two largest banks increased by €830 million between 2022 and 2023, mainly due to higher interest receipts from the ECB. Cyprus banks deposited around 35% of their assets at the ECB, earning from 2% to 4% in interest in 2023. Cyprus banks offered an average interest rate of 2.06% on fixed term deposits in January 2024, compared with an average deposit rate of 3.21% in the euro area. The net interest margins for Cyprus banks exceeded three percentage points, while the average for the euro area was just over one percentage point. The Bank of Cyprus announced that €112 million of their after-tax profit of €487 million would be distributed as cash dividends to shareholders, with a share buyback of up to €25 million.